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Jan 17, 2013
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and your corporate tax. where do you intend to get revenue to run your state? >> well, greta, the way we're going to do it, again, we're proposing elimination of the individual income tax and corporate income tax and the income is going to come by repealing some of the sales tax exemptions that we've granted to businesses over the years and i've had many conversations with them. they're looking for a simpler and fairer tax code and again, people in my state are pretty excited about the idea that we could eliminate the individual income tax. >> greta: i imagine though if you're taking advantage of that sales exemption tax you're not going to be particularly fond of this idea. how are you going to convince those people it's a good idea? >> well, that's the challenge we have, but again, many of these were implemented four or five decades ago. we have a different economic environment then and again, as i talk to business leaders, they said, you know what? if you can make it simpler and fairer we're willing to go
and your corporate tax. where do you intend to get revenue to run your state? >> well, greta, the way we're going to do it, again, we're proposing elimination of the individual income tax and corporate income tax and the income is going to come by repealing some of the sales tax exemptions that we've granted to businesses over the years and i've had many conversations with them. they're looking for a simpler and fairer tax code and again, people in my state are pretty excited about the...
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Jan 19, 2013
01/13
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subject to payroll taxes, they said it would hurt the economy. that would be far more damaging, they said to economic growth than what we're asking people to consider. if you raise the taxes, you will have an immediate effect on employment and economic activity. so if you're a ceo who makes maybe only a million, you're taxed on the first tenth of your income. if you're making $60,000 a year, every one of your $60,000 is taxed for social security. and this is the kind of thing, it just drives me crazy. you know what the flip side of these guys loving their jobs, never ever wanting to leave not even when they're old and they have lots of grand kids, they're not stopping the ceos of cesars because they're paying payroll taxes on more of their income. they love their job, folks at the top that convince themselves that things wouldn't hurt at all like raising the retirement age, are easy no-brainers, that are just common sense. they convinced themselves of things that will hurt them and devastating the economy. when they say no to higher taxes, they a
subject to payroll taxes, they said it would hurt the economy. that would be far more damaging, they said to economic growth than what we're asking people to consider. if you raise the taxes, you will have an immediate effect on employment and economic activity. so if you're a ceo who makes maybe only a million, you're taxed on the first tenth of your income. if you're making $60,000 a year, every one of your $60,000 is taxed for social security. and this is the kind of thing, it just drives me...
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Jan 18, 2013
01/13
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what have we done on the tax well, we have raised taxes on capital. we haven't cut the corporate income tax. we haven't done anything on immigration, we have added more regulation. if you want to add an expensive regulation, fine, get rid of one. we have not been thinking of the regulation or tax or spending on growth. listen, given how big the debt is, according to ken rogueoff we are past the red zone where the amount of debt we have is slowing growth. we need to deal with that too. >> we just put $1.3 trillion on. that came out today. small business, the backbone of the economy, they got a big tax hike. i think that's the most regrettable. instead of paying 40% plus 3.8% obama care, i don't think the small business should pay more than 25%. i don't think the large business should pay more than 25%. those are both anti-growth measures from president obama. >> well, we should have free lunches too, larry. look, someone has to pay for government and the reality is you were talking about the past when we had more rapid growth. we did have more rapid gr
what have we done on the tax well, we have raised taxes on capital. we haven't cut the corporate income tax. we haven't done anything on immigration, we have added more regulation. if you want to add an expensive regulation, fine, get rid of one. we have not been thinking of the regulation or tax or spending on growth. listen, given how big the debt is, according to ken rogueoff we are past the red zone where the amount of debt we have is slowing growth. we need to deal with that too. >>...
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Jan 14, 2013
01/13
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b, they pay their back taxes. and c, they pay a small penalty for having broken the law in the first place. >> but let me push you on that because if you don't provide a path to citizenship -- >> i don't think you have to say that they can become citizens. this -- that part of my four-point program's going to be a attacked voluntary sis rously by people on the republican side. but it's not amnesty. they have a path to citizenship. they do the way every other immigrant does to become an american citizen. >> what would you say to the republicans who will say, look, they should be deported? >> yes. >> they should never have a path -- >> and you think what you say to them, look what your position got us in this last election. we need to pay attention to demographics. okay? i said we need to be the party of hope and opportunity. not the party of anger and resentment. >> illegal immigration is just one problem with our current system says michael bloomberg, the mayor of new york city and one of america's most successful
b, they pay their back taxes. and c, they pay a small penalty for having broken the law in the first place. >> but let me push you on that because if you don't provide a path to citizenship -- >> i don't think you have to say that they can become citizens. this -- that part of my four-point program's going to be a attacked voluntary sis rously by people on the republican side. but it's not amnesty. they have a path to citizenship. they do the way every other immigrant does to become...
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Jan 15, 2013
01/13
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it isn't including the possibility that we develop a tax regimen in this country. but that has to happen and it doesn't include the notion that you and i haven't thought of. a wealthy player that believes in the vision of being a one stop shop for the smaller business companies. the idea that could be considered reasonable. it will be replaced by a smartphone and a tablet that is certainly possible. if you think it is the latter than $11 well, i got to tell you, you should be in dell. this stock isn't going back to $8 and change. but you better wait until it cools down before you buy. as we know, no man's land is a very, very bad place to be. stay with cramer. next straight talk from the keystone state. the moves he is making to keep the state strong. the cud ho report next on cnbc. what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your money needs an ally. ♪ [ male announcer ] don't just reject convention. drown it out. introducing the all-new 2013 le
it isn't including the possibility that we develop a tax regimen in this country. but that has to happen and it doesn't include the notion that you and i haven't thought of. a wealthy player that believes in the vision of being a one stop shop for the smaller business companies. the idea that could be considered reasonable. it will be replaced by a smartphone and a tablet that is certainly possible. if you think it is the latter than $11 well, i got to tell you, you should be in dell. this...
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Jan 14, 2013
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sales tax, correct? >> well, it's not quite. progressive is important to me, i don't want people to pay taxes if they have $20,000 a year worth of income. but at 30,000, i might like for people to pay $1. just $1. so they have a legitimate claim for saying, i'm part of the society, and i don't pay a lot, but i do pay something. everybody participates, and there's no game playing, it's a very efficient way to raise revenue. right now, it costs us $431 billion a year to administer the tax system we have, and the tax gap, the money we're not collecting that's theoretically owed is $400 billion a year. we could do better than that, we can think better than that. and the president needs to lay that out for us. >> even if we get more growth, we're still finding it difficult to get unemployment down. elaine cho served as george w. bush's secretary of labor. what would you do to create more jobs in america? >> i think you have to keep the tax rate low, they're a direct burden on the resources of the employer. th
sales tax, correct? >> well, it's not quite. progressive is important to me, i don't want people to pay taxes if they have $20,000 a year worth of income. but at 30,000, i might like for people to pay $1. just $1. so they have a legitimate claim for saying, i'm part of the society, and i don't pay a lot, but i do pay something. everybody participates, and there's no game playing, it's a very efficient way to raise revenue. right now, it costs us $431 billion a year to administer the tax...
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Jan 16, 2013
01/13
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the end of the payroll tax holiday has to hurt retail doesn't it? and the facebook disappointment. you have this mystery announcement coming. instead we have an announcement of a tool to search information on big social networks. what a bust. yet the market didn't get hammered. there was no rally, and then we got the nap time and the fresh bull came to play into the bell. what is happening here? there have been different times along the way up where we had this same exact phenomenon like we are seeing here today. one at the beginning of the bull run. another occurred in the first three years in the '90s. we had about a half dozen since the new millennium. and every single case, every single one i can recall we get this moment where the market didn't get tired, but the analyst did. many big cap stocks had run up into their price targets. analysts stayed bullish or they actually even raised price and it was a mistake. and i'll tell you, let's use it, an endless target party. 700 goes to 900 and only if there were a two for one stocks split. the analysts were gun shy. not the cheering
the end of the payroll tax holiday has to hurt retail doesn't it? and the facebook disappointment. you have this mystery announcement coming. instead we have an announcement of a tool to search information on big social networks. what a bust. yet the market didn't get hammered. there was no rally, and then we got the nap time and the fresh bull came to play into the bell. what is happening here? there have been different times along the way up where we had this same exact phenomenon like we are...
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Jan 19, 2013
01/13
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there is no strategy going forward to any kind of corporate tax reform. he talks about it but it's not going anywhere. there's no -- >> how can you -- what's your defense on this? >> i'm at a loss for words. >> yes. i would imagine so. >> i don't know, about the jobs council i don't think it's a huge deal that it hasn't met because they've already made recommendations. and the question is when are those recommendations ever going to see the light of day in congress. he has an american jobs act he put out. it hasn't gone anywhere in the republican house. i think those are some of the proposals that came out of the jobs council. but in terms of what mark said i think he's exactly right. the president does need to be talking about jobs more. i felt that the whole six-week period after the election until the end of the year when he talked about the fiscal cliff and the debt -- and the debate with the republicans was a wasted opportunity. we had an election that was just about jobs. i think the president needs to get back to that issue if he hopes to realign w
there is no strategy going forward to any kind of corporate tax reform. he talks about it but it's not going anywhere. there's no -- >> how can you -- what's your defense on this? >> i'm at a loss for words. >> yes. i would imagine so. >> i don't know, about the jobs council i don't think it's a huge deal that it hasn't met because they've already made recommendations. and the question is when are those recommendations ever going to see the light of day in congress. he...
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Jan 14, 2013
01/13
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yeah, the payroll tax really matters but, in fact, if you look at how much the average homeowner who has been able to refinance and that's more and more of them, have saved, it dwarfs what the increases in the payroll tax. >> all right. we will leave it there. great conversation, guys. appreciate your time tonight. see you soon. greg ip and jerry webman. >>> up next on "on the money," what today's students learn on the economy and what we can teach yourself for the future. the president of harvard university is with me. >>> and buzz with millions, how to build a news company in a new age. age. how it may just save journalism. >>> welcome back. as college education's high cost continues to rise, some families are forced to opt out for financial reasons. how does that impact businesses on campus. joining me now is drew faust, harvard president. >> great to be here. >> we had news this week from m moody's. the demand for four-year college degrees is going down, it is softening. it is softening. leading to declines in net revenue for many universities. now, i realize harvard really is in
yeah, the payroll tax really matters but, in fact, if you look at how much the average homeowner who has been able to refinance and that's more and more of them, have saved, it dwarfs what the increases in the payroll tax. >> all right. we will leave it there. great conversation, guys. appreciate your time tonight. see you soon. greg ip and jerry webman. >>> up next on "on the money," what today's students learn on the economy and what we can teach yourself for the...
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Jan 16, 2013
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we picked up $204 million rather than put taxes whose impact fee into the community. it has allowed the industry itself to hire people. there are related companiy ies t hire people. and you know the phrase the necessity is the mother of invention. a lot of inventions are being developed but the energy itself allows businesses across the state to grow. a lot of companies in south eastern pennsylvania and philadelphia are going to be using it to power the refineries, it is looking and hopefully will build a facility that will take the ethonol and take ethanes they are paying around $80,000. the average workforce is $47,000. >> why is the governor still waiting? >> i know what is going on. i know there are a number of people that used to be opposed to it. a lot of them have changed here. but there are a certain group that are opposed to it. but i remind many people we follow it closely and it is a technology that has been used in texas and we feel comfortable that it is flowing the economy here in pennsylvania and it is going to make us and the united states in the long-
we picked up $204 million rather than put taxes whose impact fee into the community. it has allowed the industry itself to hire people. there are related companiy ies t hire people. and you know the phrase the necessity is the mother of invention. a lot of inventions are being developed but the energy itself allows businesses across the state to grow. a lot of companies in south eastern pennsylvania and philadelphia are going to be using it to power the refineries, it is looking and hopefully...
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Jan 15, 2013
01/13
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xlees with tax breaks for rum distillers? i need a drunk. >>> i'm kry is tal ball. are we turning our kids in to narcissists? >>> a dope. lance armstrong comes clean to the queen of talk but who needed the interview more, lance or oprah? >>> i'm shooting straight coming to guns. ready, aim? "the cycle" is on fire. >>> the house is back and getting serious about the constitution. members spent 1:05 reciting the entire u.s. constitution. it's the basis of our government, of course, but this is only the second time ever the entire document was read aloud in the house. >> we the people of the united states in order to form a more perfect union -- >> no person except a natural-born citizen shall be eligible to the office of president. >>> the powers to all cases of law and equity. >> full faith and credit given in each state to the public acts. >> congress shall make no law respecting an establishment of religion, the right of the people to keep and bear arms shall not be infringed. >> neither slavery nor involuntary servitude shall exist within the united states. >> the
xlees with tax breaks for rum distillers? i need a drunk. >>> i'm kry is tal ball. are we turning our kids in to narcissists? >>> a dope. lance armstrong comes clean to the queen of talk but who needed the interview more, lance or oprah? >>> i'm shooting straight coming to guns. ready, aim? "the cycle" is on fire. >>> the house is back and getting serious about the constitution. members spent 1:05 reciting the entire u.s. constitution. it's the...
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Jan 13, 2013
01/13
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yeah, the payroll tax really matters but, in fact, if you look at how much the average homeowner who has been able to refinance and that's more and more of them, have saved, it dwarfs what the increases in the payroll tax. >> all right. we will leave it there. great conversation, guys. appreciate your time tonight. see you soon. greg ip and jerry webman. >>> up next on "on the money," what today's students learn on the economy and what we can teach yourself for the future. the president of harvard university is with me. >>> and buzz with millions, how to build a news company in a new age. age. how it may just save journalism. lucky charms?! ♪ yer always after me lucky charms! whoa. i forgot how good these taste! [ lucky ] ♪ they're magically delicious now all general mills big g kid cereals have more whole grain than any other ingdient in cereals like lucky charms and cinnamon toast crunch, the delicious way to help them grow up strong. >>> welcome back. as college education's high cost continues to rise, some families are forced to opt out for financial reasons. how does that im
yeah, the payroll tax really matters but, in fact, if you look at how much the average homeowner who has been able to refinance and that's more and more of them, have saved, it dwarfs what the increases in the payroll tax. >> all right. we will leave it there. great conversation, guys. appreciate your time tonight. see you soon. greg ip and jerry webman. >>> up next on "on the money," what today's students learn on the economy and what we can teach yourself for the...
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Jan 15, 2013
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the payroll tax holiday was allowed to expire. the fiscal cliff, this isn't a new tax. it's a return of an old tax but it's playing havoc with domestic stocks. so is all of the partisanship that makes our country seem like a mickey mouse place to invest and uncertainty going forward, every single democratic government on earth seems to be better organized and smoother functioning than ours. that uncertainty caused by that lack of confidence and higher payroll taxes might have something to do with the declines we're seeing. telco was a place to hide back in 2012. at&t and verizon saw slow downs. no let up in the subsidies to apple and samsung, we love these companies because they had no europe last year, no china, no mexico. now we wish they had all three and there was business formation. let's focus on the other half of the equation. it's a little more robust, where the money is going. last night china had one more remarkable session. holy cow, courtesy of new attitude. the gold double digit growth is taking up the fxi. follow along, but it is taking up the ancillary ch
the payroll tax holiday was allowed to expire. the fiscal cliff, this isn't a new tax. it's a return of an old tax but it's playing havoc with domestic stocks. so is all of the partisanship that makes our country seem like a mickey mouse place to invest and uncertainty going forward, every single democratic government on earth seems to be better organized and smoother functioning than ours. that uncertainty caused by that lack of confidence and higher payroll taxes might have something to do...
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Jan 18, 2013
01/13
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. >> tax fraud appears to be a popular past time in u.n. prisons. a new report by treasurer's department says the irs detected more than 173,000 fraudulent tax returns from inmates last year. that's more than twice the number detected in 2010. some inmates steel identity from obituaries some even use their own but fudge the numbers to try to get much bigger tax refunds they deserve. in 2012 two inmates alone tried to claim more than $1 billion. the good news is the irs says it stopped those two and others from illegally claiming 2.5 billi 2.5 billion in last refunds last year. they are stepping up enforcement but says more needs to be done. $35 million slipped through the cracks and so the irs says it's very successful at detecting and stopping in incorrect refunds when prisoner data is available it adds there are significant challenges getting complete and consistent data from the multiple jurisdictions involved. still the agency says if committed to enhancing the process is to further minimize prisoner refund fraud. >> it is now 44 after the top o
. >> tax fraud appears to be a popular past time in u.n. prisons. a new report by treasurer's department says the irs detected more than 173,000 fraudulent tax returns from inmates last year. that's more than twice the number detected in 2010. some inmates steel identity from obituaries some even use their own but fudge the numbers to try to get much bigger tax refunds they deserve. in 2012 two inmates alone tried to claim more than $1 billion. the good news is the irs says it stopped...
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Jan 19, 2013
01/13
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with h&r block's messed-up tax second look,there. hrimp lover, people bring in old tax returns, and i'm like, "who did this to you?" don't worry, i'll fix it. i'll go back three years... and get you every single deduction out there. i feel more inspired. more positive. [ male announcer ] only lipton adds fresh-pressed tea leaves to its new great tasting blend. drink new lipton and you'll be surprised how great you feel. ♪ [ all kids ] twooooo! [ moderator ] you sure? i am absolutely positive! [ little boy ] two times is awesome. the thing i can do is wave my head and wave my... that's amazing. i've never seen anything like that. look i can do -- hold on -- i'm watching this. i'm getting dizzy... [ male announcer ] it's not complicated. doing two things at once is better. and only at&t's network lets you talk and surf on your iphone 5. ♪ >> jimmy: president obama is about to propose legislation that would limit access to assault weapons and require background checks on people who buy guns, and, of course, getting a lot of oppositi
with h&r block's messed-up tax second look,there. hrimp lover, people bring in old tax returns, and i'm like, "who did this to you?" don't worry, i'll fix it. i'll go back three years... and get you every single deduction out there. i feel more inspired. more positive. [ male announcer ] only lipton adds fresh-pressed tea leaves to its new great tasting blend. drink new lipton and you'll be surprised how great you feel. ♪ [ all kids ] twooooo! [ moderator ] you sure? i am...
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Jan 20, 2013
01/13
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because in our budget that we will pass, we will lift tax reform, which many of my republican colleagues liked, but it will include revenues. it's a great opportunity to get us more revenues to help in part deal with sequestration and deal with the issue of -- >> but senator schumer, the point, and i want to get senator cruz's response here, but the reality is that the president is willing to throw the long ball on this big sunday of football, when it comes the gun control. and yet because of his view of republican recalcitrants, he doesn't step up and show real leadership and be proactive on a big spending cut proposal and medicare cut proposal because he doesn't want to go there. why throw the long ball when it comes to gun control but not take a leadership role when it comes to spending cuts? >> well, he is. in the negotiations up to the fiscal cliff, the president put things on the table. $400 billion in medicare cuts. he was talking about change cpi, which -- >> you're talking about more revenue. that's not big enough on medicare cuts according to es bowles and others. if you're goi
because in our budget that we will pass, we will lift tax reform, which many of my republican colleagues liked, but it will include revenues. it's a great opportunity to get us more revenues to help in part deal with sequestration and deal with the issue of -- >> but senator schumer, the point, and i want to get senator cruz's response here, but the reality is that the president is willing to throw the long ball on this big sunday of football, when it comes the gun control. and yet...
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Jan 16, 2013
01/13
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tax or no tax, middle east, those guys good at what they do. how you doing? >> caller: a big booyah from florida. >> what's going on, sunshine? >> caller: a called a month ago for cisco. y you told me to buy. now it's 21. you think i should buy? >> i think it's good. a very hard stock. i see the orders coming from the telco ies, so my charitable trust pulled the trigger, bought cisco. i think it will go to 24. >>> sally in california. >> caller: a big booyah to you from california. can you tell me about anteras pharmaceutical. ants. >> the injectables, very competitive. not a believe every or buyer of that particular industry, not that crazy on the stock. >>> let's go to drew in california. >> caller: dr. cramer, l.a. king stanley cup champ ba ba booyah to you. >> what's up? >> caller: thank you for getting be mac me back in the game in 2012. chesapeake, chk. >> a hard one to own frankly. i'll tell you why. my trust owns southwestern energy, which i think the ceo will tell you, a darn good company. natural gas prices won't go up i feel. and i worry about the
tax or no tax, middle east, those guys good at what they do. how you doing? >> caller: a big booyah from florida. >> what's going on, sunshine? >> caller: a called a month ago for cisco. y you told me to buy. now it's 21. you think i should buy? >> i think it's good. a very hard stock. i see the orders coming from the telco ies, so my charitable trust pulled the trigger, bought cisco. i think it will go to 24. >>> sally in california. >> caller: a big...
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Jan 15, 2013
01/13
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when we pay our gasoline tax, we spend that money to the federal government. they skim off management fee and then they dole it out all over again to things like a museum dedicated to the packer, a movie about movies about the road for alaska, things like that. airport money, we spend all of this, there's a tax in all of our tickets, and yet all that money goes into a big pile and the vast majority of it does not go to the biggest airports in the country. it goes to the ones that are the most politically connected. you really have to disengage congress and get more private money going directly where they can actually make a profit and you'll get more infrastructure. >> yeah, but donna, i mean, president obama signed the recovery act and spend billions on infrastructure project. did we get our money's worth? what did that money goes toward? >> well, first let me say, we do need some more money. yes, some airports can be built privately, and there's no question we're spending the money in the wrong places, but even if we took all the money going to highways, lik
when we pay our gasoline tax, we spend that money to the federal government. they skim off management fee and then they dole it out all over again to things like a museum dedicated to the packer, a movie about movies about the road for alaska, things like that. airport money, we spend all of this, there's a tax in all of our tickets, and yet all that money goes into a big pile and the vast majority of it does not go to the biggest airports in the country. it goes to the ones that are the most...
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Jan 19, 2013
01/13
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CNN
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indicted on 21 charges of federal corruption, including bribery, money laundering, fraud, filing false tax returns. nagin was mayor of new orleans during 2005's hurricane katrina and the aftermath and prosecutors say he used his office for personal gain and accepted payoffs, free trips, and thousands of dollars in bribes. >>> hey, the dow and the s&p 500 ended the week at their highest levels in five years. now, the finish closed out a trade week that saw strong quarterly earnings from reports from major banks. markets also seemed to react positively to signs that the debt ceiling debate could be pushed back a bit. trading resumes on tuesday after the martin luther king jr. holiday. >>> let's turn to the inauguration now. former president bush 41 and 43 were, of course, invited, but they won't be there this time. the elder bush is recovering from a month-long hospital stay after being treated for bronchitis. you remember that. a spokesperson for bush 43 says the former president and his wife, laura, wish the obamas, quote, all the best for a wonderful inaugural weekend. both former preside
indicted on 21 charges of federal corruption, including bribery, money laundering, fraud, filing false tax returns. nagin was mayor of new orleans during 2005's hurricane katrina and the aftermath and prosecutors say he used his office for personal gain and accepted payoffs, free trips, and thousands of dollars in bribes. >>> hey, the dow and the s&p 500 ended the week at their highest levels in five years. now, the finish closed out a trade week that saw strong quarterly earnings...
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Jan 15, 2013
01/13
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it's a special tax form. have you to file for every single state that you're in where the pipeline might go through. it's a little complicated so some people have been buying exchange-traded funds because there's mlp exchange-traded funds. the point is if you're interested in dividends, these -- these kinds of deals are very, very host investments. two other ones are coming this week. >> not really seeing the kind of pace that we've seen for ipos. haven't seen the business come back. >> norwegian cruise lines goes back. not a massive limited partnership. >> that's a very well known name. >> sure they will be trying it out. >> get me my sunglasses. >> closing countdown coming up. >> and is congress threatening the economy with the looming fight over the debt ceiling? something we're all talking about, and will washington ever get serious about fixing the debt crisis. do not miss, this should be pay-per-view's, maria's exclusive interview with alan simpson coming up on the "closing bell." >> he's always great.
it's a special tax form. have you to file for every single state that you're in where the pipeline might go through. it's a little complicated so some people have been buying exchange-traded funds because there's mlp exchange-traded funds. the point is if you're interested in dividends, these -- these kinds of deals are very, very host investments. two other ones are coming this week. >> not really seeing the kind of pace that we've seen for ipos. haven't seen the business come back....
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Jan 17, 2013
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end of the payroll tax cut holiday. something dragging down on retailers, and higher payroll taxes disproportionately hit low and middle income consumers. customers make 40,000 a year or less. end of the payroll tax holiday, means a household will have to pay $800 to $1,000 in taxes that they won't be able to spend at the general. these families will have to tighten their belts. since they are more likely to shop at family dollar or dollar general than saks, that's bad news. the debt ceiling fiasco, and the negotiation of the budget sequester, we could see actual cuts to entitlement programs in the next few months, at least there will be tons of chatter in the media about it. i don't think either the republicans or the democrats have the guts to cut entitlements. what does this have to do with the dollar stores? you cut program that help people who shop at dollar stores, you hurt these stocks. the low-ends retail environment is getting more competitive. they have to become more promotional, code for more discounts. in o
end of the payroll tax cut holiday. something dragging down on retailers, and higher payroll taxes disproportionately hit low and middle income consumers. customers make 40,000 a year or less. end of the payroll tax holiday, means a household will have to pay $800 to $1,000 in taxes that they won't be able to spend at the general. these families will have to tighten their belts. since they are more likely to shop at family dollar or dollar general than saks, that's bad news. the debt ceiling...
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Jan 13, 2013
01/13
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CSPAN
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congress has provided tax breaks, tax cuts, tax loopholes, and tax perks estimated to reduce revenues by more than $1 trillion. [no audio] >> the policy in this budget says the the department of defense will tamp down increases so that there is no real growth in the five-year window. the savings compared to their five-year plan for the last year's budget. we think it that is an important step that requires tough choices, meaning the you cannot afford the second engine that you do not need for the joint strike fighter. there are tough decisions that have to be made. leadership in the military was difficult. there are things that are made now that will now be made in the future. that is what it takes to get our defense budget under control. in the question of closing loopholes, the president's budget has a number of specifics. we also have provisions that would take away the tax benefits to come to companies that export jobs. we think it is important to have our policy and tax code designed do reflect what we need to do in our economy. for the future, we need to develop new and renewabl
congress has provided tax breaks, tax cuts, tax loopholes, and tax perks estimated to reduce revenues by more than $1 trillion. [no audio] >> the policy in this budget says the the department of defense will tamp down increases so that there is no real growth in the five-year window. the savings compared to their five-year plan for the last year's budget. we think it that is an important step that requires tough choices, meaning the you cannot afford the second engine that you do not need...
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Jan 18, 2013
01/13
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KGO
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so when it comes to taxes, we're here to help you. that's why we have cpas, enrolled agents, and tax attorneys to answer your questions-- helping you get deductions for uniforms, union dues, and even the miles you drive for a job interview. you deserve to keep more of your hard-earned money. and we're here to help make that happen. turbotax-- the power to keep what's yours. try it free at turbotax.com. [ nyquil bottle ] just reading your label. wait...you relieve nasal congestion? sure don't you? [ nyquil bottle ] dude! [ female announcer ] tylenol® cold multi-symptom nighttime relieves nasal congestion. nyquil® cold and flu doesn't. home of the all-new grilled onion cheddar burger, topped with melty white cheddar and caramelized onions. plus all your tasty favorites for just a dollar each. every day. ♪ when someone in my family gets the flu. fact: advil not only relieves body aches and pains that can come with the flu, it also reduces fever fast. relief doesn't get any better than this. advil. >> jimmy: in ancient times, our next
so when it comes to taxes, we're here to help you. that's why we have cpas, enrolled agents, and tax attorneys to answer your questions-- helping you get deductions for uniforms, union dues, and even the miles you drive for a job interview. you deserve to keep more of your hard-earned money. and we're here to help make that happen. turbotax-- the power to keep what's yours. try it free at turbotax.com. [ nyquil bottle ] just reading your label. wait...you relieve nasal congestion? sure don't...
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Jan 18, 2013
01/13
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CNBC
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in 1937 as we were coming out of depression, the government tightened fiscal policy, raised taxes and the fed raised rates and created a second downturn. this is what ben bernanke has studied his whole life and this is the mistake he refuses to make. >> jeff, wouldn't that be a mistake? i mean, isn't part of the equation that we're not talking about, demand? yes, there's a lot money out there and it's very cheap right now but the demand for that money is what's keeping the inflation lower right now, isn't it? >> i would tell you, yeah, i mean, the demand i guess is certainly the issue that he's trying to stimulate here, but i just don't know how you stimulate it by continuing to just devalue the united states currency. >> let me stop you there, jeff, because that hasn't happened. >> yes, it has. >> by what measure? >> if you look at the dxy, down 11% since qe started. >> okay. if that was also part -- if you read all. fed's and all of ben bernanke's literature on how to attack deflation and reflate, part of it is gently devaluing the dollar. competitive devaluations going around the w
in 1937 as we were coming out of depression, the government tightened fiscal policy, raised taxes and the fed raised rates and created a second downturn. this is what ben bernanke has studied his whole life and this is the mistake he refuses to make. >> jeff, wouldn't that be a mistake? i mean, isn't part of the equation that we're not talking about, demand? yes, there's a lot money out there and it's very cheap right now but the demand for that money is what's keeping the inflation lower...
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Jan 19, 2013
01/13
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FOXNEWS
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man who has raised taxes on just about everybody. has run up 4 consecutive trillion-dollar federal budget deficits in his first term. he has an economy that is not being returned to prosperity. 23 million people still unemployed. we have, i think bill. i think if i may. you undersell folks just a little bit in that i think everybody is smart enough to know there is is a problem. i think everybody is pretty much smart enough to know that we have got to come up with a solution. when you have a national media part of this coalition of interest and depen dense on the democratic party, there is no way for them to have validation. there is no way for them to have an aggressive watchdog that would normally, traditionally, historically be attacking the miss adventure of those in power. >> we agree that the media is in the tank. i'm almost stunned that you think, to quote you, everybody understands the issue. i will tell you why, you go right outside the fox news channel building now and you stop people and go what about the federal debt? com
man who has raised taxes on just about everybody. has run up 4 consecutive trillion-dollar federal budget deficits in his first term. he has an economy that is not being returned to prosperity. 23 million people still unemployed. we have, i think bill. i think if i may. you undersell folks just a little bit in that i think everybody is smart enough to know there is is a problem. i think everybody is pretty much smart enough to know that we have got to come up with a solution. when you have a...
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Jan 16, 2013
01/13
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MSNBCW
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i thought conservatives hated taxes. burnett said this liberal tax exists to make a point. >> we have a fiscal problem in this country. we've got to deal with it or we don't have a country. so to kind of help make that point a little bit, i charge them just a little bit more. >> yeah, it's all our fault. to add insult to injury, burnett donates the extra dollar to the conservative cause like the heritage foundation. jim demint will like that. but vernal, utah, is located in solid red county, folks. 90% of the residents there voted for mitt romney. less than 9% voted for barack obama. burnett's controversial pricing is getting him free publicity and lots of love from local republicans. but his stunt will not single-handedly fund jim demint and the heritage foundation. at $1 per liberals, let's add it all up. >> actually, all three liberals have been happy to pay it. >> there you go. heritage foundation, good luck with the three extra bucks. don't spend it -- well, yeah, go ahead, spend it in one place. >>> tonight in our
i thought conservatives hated taxes. burnett said this liberal tax exists to make a point. >> we have a fiscal problem in this country. we've got to deal with it or we don't have a country. so to kind of help make that point a little bit, i charge them just a little bit more. >> yeah, it's all our fault. to add insult to injury, burnett donates the extra dollar to the conservative cause like the heritage foundation. jim demint will like that. but vernal, utah, is located in solid...
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Jan 14, 2013
01/13
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CNBC
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the payroll tax hold day was not extended, so, that pushed the tax and social security up to 6.2% from 4.2%. despite the consumer discretionary shot up. no everyone is convinced the run can last as consumers feel the pinch. it's time for a street fight. karen is bullish on consumer discretionary, b.k. is bearish. so, beeks, lay out the bear case. >> okay, so, i start, karen is undefeated. i'm going to mind by ps and qs here. i think consumer discretionary is overdone here, primarily because when you look at consumer credit and disposable income, they increase one to one. we had an increase in consumer credit, away from the trend. you have an increase in disposable nexincome. it may not be a lot, but that could have a nonlinear effect on the area. when i look back at the valuation of it, xly or the underlying index is trading at the high end of its valuation on a p.e. and price to book ration owe is the word i was looking for. it a tough word. >> yeah. >> r-a-t-i-o. >> yes. >> i but curious about this, because it doesn't sound like a lot, but the tax policy center says that's $18 to $20
the payroll tax hold day was not extended, so, that pushed the tax and social security up to 6.2% from 4.2%. despite the consumer discretionary shot up. no everyone is convinced the run can last as consumers feel the pinch. it's time for a street fight. karen is bullish on consumer discretionary, b.k. is bearish. so, beeks, lay out the bear case. >> okay, so, i start, karen is undefeated. i'm going to mind by ps and qs here. i think consumer discretionary is overdone here, primarily...
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Jan 17, 2013
01/13
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CNBC
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not going to save our way out or tax our way out, but those things do matter. i'm glad ceos are spending time expressing their thoughts on these issues. >> but we're living cliff by cliff. >> yes. >> it's amazing to me that we haven't, you know, put out real solutions. has this, do you think, become an impediment for business? has it become an impediment for your business that all this uncertainty and the fact that we can't make any decisions in washington, even though the corporate balance sheet is quite strong. >> absolutely. what did we talk about in december? nothing but fiscal cliff. it even drove santa claus off the front page. all we talked about. >> that's true. >> now the debt ceiling and then it's sequester and the continuing resolution. we go from this cliff to that cliff, and we don't deal with the problem. if we deal with the problem, there's so many assets in america. we can grow our way out of this. >> let me ask you about getting out of a problem and for many it's regular laying. after the 2008 upset, the banking sector has faced much higher reg
not going to save our way out or tax our way out, but those things do matter. i'm glad ceos are spending time expressing their thoughts on these issues. >> but we're living cliff by cliff. >> yes. >> it's amazing to me that we haven't, you know, put out real solutions. has this, do you think, become an impediment for business? has it become an impediment for your business that all this uncertainty and the fact that we can't make any decisions in washington, even though the...
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Jan 18, 2013
01/13
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MSNBC
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. >> entitlement reform and without tax reform and without some spending plan that congress can accept and the country can accept, the poll also said that we're talking about obama before the show that the majority of americans believe what's hindering economic growth is the fact that washington continually finds itself at an impasse or a position around how to resolve what seem to be to me and i think a lot of americans commonsense balanced solutions that should be put forward. without that, all of this, i don't think, comes to fruition. >> let me say one thing before we go. michael, if, in fact, the ofa infrastructure does work, does that not then -- does that not mean now all future presidencies will have -- >> the eternal campaign. to some extent, you do already, but this will rachet up one notch. >> it's also -- the political parties have disintegrated in terms of power. the republican side, everything is -- >> understatements. >> i know. the tea party groups, the stuff, those are now the epicenters of the political power right now. it's not the rnc. what organize for action is go
. >> entitlement reform and without tax reform and without some spending plan that congress can accept and the country can accept, the poll also said that we're talking about obama before the show that the majority of americans believe what's hindering economic growth is the fact that washington continually finds itself at an impasse or a position around how to resolve what seem to be to me and i think a lot of americans commonsense balanced solutions that should be put forward. without...
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Jan 17, 2013
01/13
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CNBC
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there's tax issues we might revis revisit. real quickly, the spreads are starting to widen. maybe that's why businesses really at that point in these markets while the tapping is good. >> thank you, rick. survey monkey. it's a web-based survey company has raised $800 million in debt. one of the largest and one of its newest investors happens to be google. kayla tausch has been following this. >> thank you, dave, for being here. rare east costa peerns to announce this newest round of funding. $800 million. no small amount. more than most spaul public companies raise going public. >> we've been working on this for over a year. we decided there's a lot of good reasons to go public. if you need capital, you need equity and if you just need liquidity and you could find that from being private, we said if there's a good way to do it and get liquidity for investors and employees was do that. we brought in new equity and brought in debt. >> raising debt for a private growth-oriented technology company. not something that happens very often. i know you had meetings with those investo
there's tax issues we might revis revisit. real quickly, the spreads are starting to widen. maybe that's why businesses really at that point in these markets while the tapping is good. >> thank you, rick. survey monkey. it's a web-based survey company has raised $800 million in debt. one of the largest and one of its newest investors happens to be google. kayla tausch has been following this. >> thank you, dave, for being here. rare east costa peerns to announce this newest round of...
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Jan 15, 2013
01/13
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CNBC
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sounds like a good thing and perhaps it is in some corners but remember, many states have relied on huge tax revenue from these companies. they, too, face a new reality. before we go, take a look at the day on wall street. the dow jones industrial average closed at the highs of the day. had before down 61 points at the worst. the nasdaq down a fraction and the s&p 500 up a fraction. that will do it tonight. thank you so much for being with me. have a great night. but don't go anywhere, because "fast money" begins right now. >>> live from the nasdaq market site in new york city's times square, i'm melissa lee. apple breaks below $500. a look at why investors are jumping ship. facebook face plant. shares fall after the social media giant unveils its new search feature. big bank earnings. what's riding on numbers from goldman sachs out tomorrow? first, straight to our top story and that's apple's slide. the stock is down 24% over the past three months. should you be a buyer or seller? let's go to the chairs and you were a buyer, keith, today. >> yeah, buy it. at the end of the day, the stock wa
sounds like a good thing and perhaps it is in some corners but remember, many states have relied on huge tax revenue from these companies. they, too, face a new reality. before we go, take a look at the day on wall street. the dow jones industrial average closed at the highs of the day. had before down 61 points at the worst. the nasdaq down a fraction and the s&p 500 up a fraction. that will do it tonight. thank you so much for being with me. have a great night. but don't go anywhere,...
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Jan 17, 2013
01/13
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CNBC
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didn't make sense to take it last year because you want to pay as much in tax last year because the rates were lower for folks in those higher earner brackets. now those same folks have been taking and that's the pressure on apple the last few weeks. >> coupling on halftime it's the fight on the street that everybody is talking about. herbalife is going on the offensive. and oil spiking to four month highs we're heading to the pits to find out crude's next stop. we're back in two minutes. i've always had to keep my eye on her... but, i didn't always watch out for myself. with so much noise about health care... i tuned it all out. with unitedhealthcare, i get information that matters... my individual health profile. not random statistics. they even reward me for addressing my health risks. so i'm doing fine... but she's still going to give me a heart attack. we're more than 78,000 people looking out for more than 70 million americans. that's health in numbers. unitedhealthcare. >> welcome back. let's take a look at shares of bank of america. we're trading at the loss of the sees. the compa
didn't make sense to take it last year because you want to pay as much in tax last year because the rates were lower for folks in those higher earner brackets. now those same folks have been taking and that's the pressure on apple the last few weeks. >> coupling on halftime it's the fight on the street that everybody is talking about. herbalife is going on the offensive. and oil spiking to four month highs we're heading to the pits to find out crude's next stop. we're back in two minutes....
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Jan 21, 2013
01/13
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CNNW
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cuts, the tax -- bush tax cuts and they would have a plan to negotiate tax reform this year and we'd be well into deficit deal and tax reform right now and then he could move on to the next agenda item. well, it didn't quite work out that way. now they have to figure out what is the first agenda item? is it immigration? is it going to be guns? so we have to figure out what are they going to move on right away? >> wait one second because we're at an important juncture. i want to go back to wolf for a second. i believe we're nearing the end of our inaugural parade. >> this is the last band. this is the second to the last band. go ahead. >> these are the firefighters of idaho performing together for the first time for the inaugural parade from idaho, as i mentioned, comprised of fire departments across the state. 20 bagpipers, seven drummers and the bagpipers are dressed in kilts, as you can see, while the other marchers are wearing color guard attire. the firefighters of idaho, we're excited for the opportunity as everyone is to come and perform and represent their state in this 57th i
cuts, the tax -- bush tax cuts and they would have a plan to negotiate tax reform this year and we'd be well into deficit deal and tax reform right now and then he could move on to the next agenda item. well, it didn't quite work out that way. now they have to figure out what is the first agenda item? is it immigration? is it going to be guns? so we have to figure out what are they going to move on right away? >> wait one second because we're at an important juncture. i want to go back to...
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Jan 17, 2013
01/13
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CNBC
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with spending cuts of 120 billion, tax hikes of 480. by the way, this 120 still hangs around. that's the sequester. so now zoom out now, let's take a look at what the debt ceiling would be by contrast. there's the debt ceiling. zandi i talked to the other day, talked to some other economists, they're saying if you hit the debt ceiling, you stayed there, you made government spending equal cash flow would be about 7% hit to gdp. essentially taking a trillion dollars out of the economy. so there it is, guys. the debt ceiling game, home edition, have fun tonight. >> this is actually much bigger deal. >> it's a huge deal. >> but would never last -- >> never going to happen, right? that's what people say. >> okay. >> relax, steve. >> i'm okay. >> what happens is the rating agencies -- >> your heart rate is going. >> what's that? >> what about the ratings agencies if they were to downgrade us, if we went over, if we went over for a day it's one thing, if we went over and stayed for a week, do they look at it just because washington can't get along, that's reason enough for another do
with spending cuts of 120 billion, tax hikes of 480. by the way, this 120 still hangs around. that's the sequester. so now zoom out now, let's take a look at what the debt ceiling would be by contrast. there's the debt ceiling. zandi i talked to the other day, talked to some other economists, they're saying if you hit the debt ceiling, you stayed there, you made government spending equal cash flow would be about 7% hit to gdp. essentially taking a trillion dollars out of the economy. so there...